The One Big Beautiful Bill Act has permanently extended the Section 199A Qualified Business Income deduction, ending its planned 2025 sunset. New 2026 IRS thresholds and expanded phase‑in ranges will ...

On May 22, 2025, the U.S. House of Representatives approved H.R. 1, also known as the “One Big Beautiful Bill Act” (the House Bill). [1] The House Bill will next be considered by the U.S. Senate, and ...

Karla Dennis, EA, MST, is CFO/CEO of the award-winning tax accounting firm KDA Inc.—specializing in tax planning. Business owners, it’s time to talk about one of the most powerful deductions still on ...

For 2025, the Section 199A deduction for qualified business income, or QBI, is worth up to 20% of eligible revenue, with some limitations. This applies to so-called pass-through businesses, including ...

Freelancing can be notoriously difficult, but a new tax break might make things easier" that is, if you're already wildly successful. The One Big Beautiful Bill Act will permanently extend and enhance ...

In this fourth installment of my multi-part series on the One Big Beautiful Bill Act (the “Act”), Steve Nofziger and I discuss a provision of the Act that impacts pass-through business entities and ...

High-earning business owners now have an opportunity to take a massive tax deduction thanks to the One Big Beautiful Bill Act. Still, they may have to implement some financial planning advice to ...

While the 2025 budget bill created some new tax breaks business owners can take advantage of immediately, the meat of the changes to the tax law will start to roll out in 2026. The tax code for ...

Business owners across Long Island can attest to the importance of working with trusted CPAs who can offer valuable tax guidance and help navigate concerns about inflation, interest rates and economic ...

What Congresses gives with one hand, it often takes away with the other and that is the case with the “Big, Beautiful Bill” when it comes to advisors who use a pass-through entity model. On the plus ...

Financial advisors structured as pass-through entities—and the clients they serve—are keeping a trained eye on how lawmakers plan to handle the state and local tax (SALT) deduction workarounds for ...